Given the increasing trend of virtual currency worldwide, giant Reliance is also ready to try in this field. The company is preparing to bring its own cryptocurrency ‘JioCoin‘.

According to sources, for this, a team of 50 professionals is being formed under the leadership of Mukesh Ambani’s eldest son, Akash Ambani. The average age of this team will be 25 years. This team will build the necessary block chains for cryptoconcines and will look at its technical aspects. This will be able to buy and sell through ‘JioCoin‘ joining the supply chain.

Significantly, the government and the RBI had issued warnings several times in the last few days about virtual currency. It said that bitcoin-like cryptocurrency has not been recognized and investing in it can be risky.

Image credit : Bitcoin Vigilance

Arun Jaitley has warned

Finance Minister Arun Jaitley had said a few days ago that this is not a legally valid currency and people will not be compensated by any kind of government. Virtual currency like BitCoin is not legally valid and nor is there any idea of the government to make it a valid posture.

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